How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it involves balancing what you consider your worth and the amount an employer believes they’re able to pay. However, if done correctly, it can be an enjoyable experience for both parties that results in a greater salary for the employee and a greater engagement of the employee in their job. Here’s how you can make your salary negotiation a success.
Key Takeaways
- Before you make a salary offer take a look at market rates and industry standards to ensure that the salary you request is reasonable.
- Get information from socializing with colleagues, using online resources such as LinkedIn Salary and Glassdoor, as well as reaching out to professional networks.
- Prepare talking points ahead of time, including education and accreditation in the form of years of relevant work experience, the results and achievements, unique skill set & capabilities, knowledge of the industry, and training potential.
- During the negotiation, you must be assured and confident but remain flexible and open. Highlight tangible results that you have achieved in previous roles.
- Keep a positive attitude throughout the conversation, and make sure you are listening actively.
Do your research
Before you enter any salary negotiation, you need to do thorough research on standard industry rates and market rates to ensure that your salary request is reasonable. Things that may affect this include the level of experience, level, company size as well as location. (?). One great way to gather information is to make connections with colleagues and others within your field of work.
Research Online
With the help of some online sources, like [LinkedIn SalaryUtilizing some of the online resources, such as [LinkedIn Salary (https: //www. linkedin. www.linkedin.com/salary) and [Glassdoorglassdoor (https: //www. glassdoor. com/Salaries/index. htm) You can find a more comprehensive information about the benchmarking range of salary businesses pay for the same job. This will give you an idea about current market rates and other aspects related to the position.
Your Network is Vital
Get insight from talking to people who have had similar positions, or contacting them via professionally-oriented networks and brainstorming with members of professional associations.
Plan Talk points
Time spent preparing for any negotiation is always time well spent. You’ll feel much more confident when giving your argument if you have a outline of your talking points before the deadline.
Here are some suggestions of what you could consider during your salary negotiation:
- Education and certification
- Experience gained through years of relevant work
- The results and accomplishments
- Unique set of skills and attributes (e.g. bilingualism)
- Industry-specific knowledge
- Training potential
Also keeping notes/notebook handy can also help during conversations so that you don’t miss any important information.
Be confident & concise
When you negotiate your salary, it’s important to be confident and clear. Talk clearly about your work experience as well as your achievements and expectations for the job. It’s essential to maintain your tone of voice positive throughout the conversation to ensure that your employer doesn’t feel like you’re seeming unfriendly.
Highlight Tangible Results
Simply stating that one is driven, hardworking, and aspire-driven person may not be enough to create an appealing appeal. Therefore, provide clear data on how previous roles made distinction in businesses or what are the most valuable capabilities that benefit the organization.
Remain flexible
If the employer isn’t able to your requested salary or compensation plan in full, remaining flexible and open-minded will allow for dialog. You may be able to ask for alternative rewards, like performance-based bonus structures instead of the Base salary(? ).
Keep your cool throughout the negotiation process - no matter how well or poorly it’s going fighting too much or making unreasonable demands can cause a negative result for everybody involved.
Practice active listening
Listening is equally as important as communicating during these kinds of conversations. Listen attentively from the any other participant during negotiations, observing specific requests and resolving doubts, if necessary, while keeping to the initial request. In the end, both parties must achieve satisfactory results.
Use the lessons you’ve learned from these discussions and incorporate it into any future talks you’re likely to participate in. Following the tips above goes in the right direction to increase the chance of achieving an agreement that is mutually beneficial.
| Your network is important | Contact friends and acquaintances who have been in similar positions or connect with the professional network in addition to brainstorming members of professional associations. |
| Create Talk points | Certification and education, Years of relevant experience, Results and accomplishments, Unique ability and traits (e.g. bi-lingualism) Know-how in the field, ability to train |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. Highlight Tangible Results. |
| Stay flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). Make sure to remain professional during the negotiation process. |
| Practice active listening | Listening is as crucial as communicating during these types of conversations. Learn away from these conversations and incorporate them into future negotiations that you’re likely to take part in. |
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Frequently Answered Questions
What is salary negotiation?
It is the act of negotiating and deciding on the compensation plan for a particular job. During this process you are able to discuss more than just your salary base, but also other benefits like retirement plans, health insurance, and more.
Why is it necessary to discuss salary?
Negotiating your pay can provide you a greater financial future as well as indicate that you know your worth. It can also help you avoid putting money on the table.
When should I start negotiating my salary?
It is recommended to begin negotiations following the acceptance of an offer to ensure that all parties are conscious of what’s being negotiated. In this way, discussions are focused on negotiating the best terms, while avoiding any surprises.
What happens if I am satisfied with the offer without any negotiation?
If you are offered a job and you are satisfied with the offer, then there’s no need to discuss it. But it’s important to be clear about what the employer will offer in the form of performance-based bonuses or career-training reimbursements.
Can I negotiate salary when I change careers entirely?
Salary negotiation when changing careers may require more planning because your prior experiences may not be directly applicable or overlap with new responsibilities. Research what similar roles in related industries pay, to develop a thorough understanding of realistic expectations for yourself, in light of your particular situation.
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